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AS 43.50.540

Purchase of and payment for stamps.

(a) A licensee shall apply to the department or a financial institution
authorized under AS 43.50.530(b) to purchase stamps required by AS 43.50.500
- 43.50.700.

(b) A licensee may authorize an agent or designee to purchase stamps for
the licensee at a location where stamps are sold. The licensee's authorization
of an agent or designee must be in writing and must be signed by the licensee.
The licensee shall provide a copy of the authorization to the department.
The authorization continues in effect until the department receives the
licensee's written notice of revocation of the authorization.

(c) Except as otherwise provided in this subsection, each stamp shall
be sold to a licensee at its denominated value less the discount provided
in this subsection. The discount under this subsection is provided as
compensation for affixing stamps to packages as required by AS 43.50.500
- 43.50.700. The department may reduce or eliminate the discount to a
licensee under this subsection if the licensee fails to meet the requirements
of AS 43.50.500 - 43.50.700. The discount under this subsection is equal
to the sum of the amounts calculated using the following percentages of
denominated value of stamps purchased by a licensee under this section
in a calendar year:
(1) $1,000,000 or less, three percent;
(2) the amount that is more than $1,000,000 but not more than $2,000,000,
two percent;
(3) the amount that is over $2,000,000, zero percent.

(d) Payment for stamps shall be made at the time of purchase, except that
the department may permit a licensee to defer payments as provided in
AS 43.50.550.

(e) The licensee or the licensee's agent or designee must obtain the
stamps in person from the department or a financial institution authorized
to sell stamps under AS 43.50.530(b). Alternatively, the licensee may
request in writing that the stamps be shipped or transported in a manner
specified by the licensee that is acceptable to the department. The department
may accept only United States mail or common or private carrier as a shipping
or transportation method.

(f) Title to the stamps passes immediately to the licensee at the time
the stamps are obtained in person or, if the stamps are shipped or transported,
at the time the stamps are placed in the United States mail or received
by the common or private carrier. The licensee bears all costs associated
with shipping or transporting the stamps. The department may replace stamps
lost or damaged in transit if the licensee provides proof acceptable to
the department verifying that the loss or damage occurred while the stamps
were in the possession of the shipping company and the shipping company
substantiates the loss or damage. Damaged stamps must be returned to the
department before the department may replace them.

(g) Loss, destruction, or theft of stamps does not absolve the licensee
of its obligation to make payment for the stamps, including payment on
a deferred-payment basis under AS 43.50.550.

(h) For purposes of the discount provided in (c) of this section, "stamps
purchased by a licensee" includes stamps purchased by affiliated
licensees.

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